Volant Textile Mills surges on getting nod to form subsidiary company

16 Nov 2011

Volant Textile Mills is currently trading at Rs. 2.30, up by 0.04 points or 1.77% from its previous closing of Rs. 2.26 on the BSE.

The scrip opened at Rs. 2.15 and has touched a high and low of Rs. 2.30 and Rs. 2.15 respectively. So far 3200 shares were traded on the counter.

The BSE group 'T ' stock of face value Rs. 1 has touched a 52 week high of Rs. 11.65 on 09-Mar-2011 and a 52 week low of Rs. 2.00 on 10-Aug-2011.

Last one week high and low of the scrip stood at Rs. 2.54 and Rs. 2.15 respectively. The current market cap of the company is Rs. 16.94 crore.

The promoters holding in the company stood at 68.85% while Institutions and Non-Institutions held 1.13% and 30.02% respectively. 

Volant Textile Mills has received an approval for formation of a subsidiary company - Force Protective Solutions, as the name approved by the MCA. The board at its meeting held on November 15, 2011 has approved for the same.

Volant Textile Mills is a 100% Export Oriented Unit manufacturing cotton and bleached grey fabrics. It has exported to all major markets of the world like Australia, Bangladesh, EEC, Hong Kong, Israel, Nigeria, Russia, Taiwan, USA. The company follows the American 10 point grey inspection.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323